Proposing a constitutional amendment to authorize the legislature to provide for a limitation on the maximum appraised value for ad valorem tax purposes of certain leased residential real property.
Impact
If passed, this amendment could significantly alter property tax assessments for leased residential real estate in Texas. It would allow landlords and property owners who lease their properties under specific conditions to benefit from potentially lower property tax burdens. This could encourage the leasing of residential properties, as it might create a more stable financial environment for property owners and lessees alike, particularly in areas experiencing rapid increases in property values.
Summary
HJR30 proposes a constitutional amendment aimed at enabling the Texas legislature to establish a limitation on the maximum appraised value for ad valorem tax purposes specifically for certain leased residential properties. This amendment would apply exclusively to single-family residences leased for no more than fair market rent, allowing the legislature to cap the appraised value at either the property's most recent market appraisal or a percentage above the previous year's appraised value, starting at 110 percent.
Contention
Notable points of contention surrounding HJR30 may arise from concerns about its implications on local government revenue and property tax equity. Critics may argue that limiting appraised values could decrease tax revenues essential for funding local services such as education and public safety. Additionally, questions about fairness may surface regarding whether this amendment disproportionately benefits certain property owners while neglecting the tax obligations of others, thus prompting debates about the broader fairness of property taxation in the state.
Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of certain commercial real property for ad valorem tax purposes.
Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of real property for ad valorem tax purposes to 105 percent or more of the appraised value of the property for the preceding tax year.
Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of real property for ad valorem tax purposes to 103.5 percent or more of the appraised value of the property for the preceding tax year.
Proposing a constitutional amendment to authorize the legislature to limit the maximum appraised value of commercial real property for ad valorem tax purposes.
Proposing a constitutional amendment to authorize the legislature to provide for limitations on the appraised value of certain real property in specified areas for ad valorem tax purposes.
Proposing a constitutional amendment to authorize the legislature to establish a limit on the maximum appraised value of real property other than a residence homestead for ad valorem tax purposes.
Proposing a constitutional amendment to authorize the legislature to establish a limit on the maximum appraised value of real property other than a residence homestead for ad valorem tax purposes.